Atlas Pipeline and Williams launch Marcellus Shale venture - Houston Business Journal:

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The two companies LLC, on April 1 . Atlas Energyt Resources LLC (NYSE:ATN), an affiliatew of Atlas Pipeline Partners, will be the anchor tenantf onLaurel Mountain’s system. Underd its agreement with Tulsa, Okla.-basec Williams (NYSE:WMB), Atlas Pipeline Partners (NYSE:APL) will receive $90 millionb in cash, a preferred righf to proceeds undera $25.5 million obligation from and 49 percent of Laurelk Mountain.
The obligation amortizes in equal principal installments over three Atlas Pipeline Partners can convert its righr to receive accrued principalk and interest under the obligation into a sum equal to the accrued principal and interest and use that to covert its required capital expenditures underthe joint-venture Atlas Pipeline Partners also said its lenders recently agreef to relax the covenants relating to totakl debt and earnings before interest, taxes, depreciation and amortizationn on its $380 million revolving credit line and $463 million term loan facility.
Additionally, , whicn owns the general partner of AtlasPipelinre Partners, said Monday it has repaid $30 milliohn on its credit facility and will pay down the remainin $16 million balance in equal quarterlyh installments over the next Atlas Pipeline Holdings (NYSE:AHD) got the $30 milliob it used to pay down the facility by issuing $15 million of preferred limited partner unita to Atlas Pipeline Partners and by borrowinhg $15 million from Atlas America Inc., which owns Atlas Pipeline general partner and 64 percentt of its common units. Atlas America (NASDAQ:ATLS) also guaranteex that Atlas Pipeline Holdings will repay theremaining $16 millionj on its credit facility.
The Atlas companiees have offices in Philadelphisand Moon, Pa.